| Document Date: 2014-08-06 09:16:12
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Company WTI / Northern Blizzard Resources Inc. / Total capital / / Continent North America / / Country United States / Canada / China / / Currency USD / / Event Debt Financing / Natural Disaster / / IndustryTerm pipeline infrastructure / transportation / average realized oil price / light oil horizontal wells / oil supply / narrower forward heavy oil differentials / heavy oil stream / oil and gas sales / oil sales volumes / natural gas / oil differential / natural gas sales / lower average realized oil prices / realized oil price / transportation costs / particular crude oil streams / heavy oil differentials / finance / oil / higher oil / oil revenue / Natural gas prices / oil market reference prices / heavy oil / higher forward oil prices / narrower heavy oil differentials / oil inventory / higher oil prices / crude oil / lower viscosity heavy oil / quarter oil / light oil / heavy oil volumes / heavy oil blend / quarter oil prices / Oil production / oil prices / oil wells / natural gas production / oil sales net / lower oil prices / light sweet crude oil / / MarketIndex WCS / North American / AECO / / NaturalFeature Cactus Lake / US Gulf Coast / Plover Lake / Gulf Coast / / Organization Organization of Petroleum-Exporting Countries / UN Court / / Position General / / ProvinceOrState Saskatchewan / Oklahoma / / PublishedMedium QUARTERLY REVIEW / the AECO Monthly / / Region West Texas / US Gulf Coast / Gulf Coast / / Technology horizontal wells / API / CAD / /
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Northern Blizzard Resources Inc. Management’s Discussion and Analysis For the Three Months Ended March 31, 2014 and 2013 B-2